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, and the u.s. economy. from the federal reserve board here in washington this is just under an hour. >> the federal open market committee committed a two day meeting earlier today. as always my colleagues and i reviewed recent economic and financial developments and discuss the economic outlook. economic outlook. the data had been generally consistent with our expectation that the fourth quarter recovery would prove temporary and modern economic growth would resume. spending by households and businesses have continued to expand. sector has seen for gains. the jobs market has shown signs of improvement over the next six months. private payrolls are growing more quickly,hours of work have increased. the rate of findings and employment insurance has fallen. the unemployment rate has continued to dip down. at 7.7%, the rate remains elevated. thatmains a concern economic growth and job creation may be slow in coming months. theontinue to monitor recent increases in japanese prices. prices which seem to be due to factory shutdowns. apart from temporary variations, inflation is running som
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